Copper futures were trading higher during the afternoon trade in the domestic market on Wednesday as investors and speculators widened their positions in the industrial metal tracking a firm trend overseas.The global equity markets rallied on hopes of more monetary stimulus from the central banks boosted the outlook for commodities demand, supported the sentiment for copper futures.

At the MCX, copper futures for August 2016 contract is trading at Rs 336.40 per kg, up by 1.85 per cent, after opening at Rs 333, against a previous close of Rs 330.30. It touched the intra-day high of Rs 339.90.

Traders cast aside data showing a 4.8 %, year-on-year drop in Chinese exports and an 8.4 % decline in imports, signaling continued weakness in the world’s biggest metal consuming nation that may curb copper demand.